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Inside Story
Who will save Greece?
The country is on the edge of a financial precipice as it seeks to avert a devastating default.
Last Modified: 28 Sep 2011 12:00

With his country on the edge of a financial precipice, George Papandreou, the Greek prime minister, has held crucial talks with Angela Merkel, the German chancellor.

Back in Athens, politicians are to vote on a new and controversial property tax, a measure to unlock international aid loans and avert a devastating default.
 
The vote is taking place three months after Papandreou sacked his finance minister and offered to step down in the wake of political turmoil and violent protests.
 
The unrest was triggered by a brutal slew of budget cuts and public asset sales demanded by Greece's international lenders - in return for the release of rescue loans.
 
Without these funds, Greece will be unable to pay its bills through October, either resulting in a restructuring of its $470bn debt or an outright default.

Can Europe rescue Greece and how can Greece turn things around at home itself?

Inside Story discusses with guests: Jens Bastian, a senior research fellow at the Hellenic Foundation for European and Foreign Policy; Vagelis Agapitos, an economist; and Clem Chambers, a financial analyst and CEO of ADVFN - Europe's largest financial information website.

Source:
Al Jazeera
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